Main Responsibilities and Required Skills for a Banking Specialist

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A Banking Specialist is a professional who specializes in various areas of banking and finance to provide specialized support and expertise to clients and colleagues. They possess in-depth knowledge and skills in specific banking domains, allowing them to fulfill specific roles within the industry. In this blog post, we will describe the primary responsibilities and the most in-demand hard and soft skills for Banking Specialists.

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Main Responsibilities of a Banking Specialist

The following list describes the typical responsibilities of a Banking Specialist:

Adhere to

Adhere to all compliance / risk procedures and follows corporate and industry protocols.

Advise

Advise customers on bank services for their needs (e.g. loans and credit cards).

Affirm

Affirm broker confirmations and handle broker inquiries.

Analyze

  • Analyze and determine hardware and software requirements.

  • Analyze financial data and prepare reports for management.

  • Analyze issues and determines next steps.

Answer

  • Answer phone calls and respond to customers' email and chat inquiries.

  • Answer questions and guide customers accordingly.

Apply

Apply strong critical thinking and problem-solving skills to meet clients' needs.

Assess

Assess and mitigate operational risks within the banking environment.

Assist in

  • Assist clients with account opening and account management processes.

  • Assist customers with navigating online screens for ACH and Wire transactions.

  • Assist in implementing frameworks, policies and processes related to regulatory compliance.

  • Assist in the development and execution of marketing campaigns.

  • Assist in the development and implementation of strategic plans.

  • Assist Remote Deposit Capture customers with basic scanner troubleshooting.

  • Assist with daily verification of new online enrollments for fraud prevention purposes.

Attend

Attend regular cross-functional company training for subject matter expertise insight.

Book

Book new loans and administer loan modifications.

Champion

Champion a high performance environment and contributes to an inclusive work environment.

Collaborate with

  • Collaborate with external auditors and regulatory bodies during audits.

  • Collaborate with team members to develop and implement new banking products and services.

  • Collaborate with technical and business partners to ensure effective delivery of system changes.

  • Collaborate with technology teams to implement innovative banking solutions.

Complete

Complete Q2 Curriculum for Retail, Business and TMS Support – Level 1.

Conduct

  • Conduct audits to assess the effectiveness of internal controls.

  • Conduct financial analysis as necessary.

  • Conduct performance evaluations of banking products and services.

  • Conduct risk assessments and ensure compliance with regulatory requirements.

  • Conduct tests and take security and quality controls.

Consult

Consult with business stakeholders and management to develop and document requirements.

Coordinate

  • Coordinate daily workflow for commercial officer.

  • Coordinate with legal and compliance departments to ensure adherence to regulations.

Deliver

Deliver legendary experiences and trusted advice.

Design

Design and develop the appearance, layout and flow of the website and mobile application.

Develop

  • Develop and deliver training programs to enhance the skills of colleagues.

  • Develop and implement financial models for forecasting and budgeting.

  • Develop and maintain relationships with key clients and stakeholders.

  • Develop Yourself and Colleagues.

Discuss

Discuss features and options for mortgages and deposits products with customers.

Engage

  • Engage and participate in all team meetings, activies, and coaching.

  • Engage and participate in all team meetings, activities, and coaching.

Ensure

  • Ensure accurate and timely financial reporting.

  • Ensure all Small Business Banking activity is in conformity with these policies and guidelines.

  • Ensure our customers have access to our online and mobile tools.

Escalate

Escalate complex or unresolved customer situations to senior managers as required.

Evaluate

  • Evaluate and negotiate contracts with vendors and service providers.

  • Evaluate creditworthiness and review loan applications.

Focus on

Focus on each client experience and connect on a personal level to make every interaction meaningful.

Follow

Follow and maintain established procedures and processes for the department.

Fulfill

Fulfill sales and service activities for the customer in accordance with approved procedures.

Gather

Gather and analyze data to identify and solve complex problems, raise as required.

Generate

Generate and distribute monthly reports for various tracking and analytical purposes.

Grow

Grow your business knowledge and network.

Handle

  • Handle all online banking call volume for the Customer Service Center.

  • Handle customer inquiries in an informed, professional, and efficient manner.

Help

  • Help Coast change the way Canadians feel about banking, forever.

  • Help create and maintain repeatable assets and processes to support sales.

  • Help create and maintain training materials and processes for new hires to help get them up to speed.

  • Help our customers understand how our banking products and solutions work.

Identify

  • Identify and implement process improvements to enhance efficiency.

  • Identify and makes referrals to other business groups as needed.

  • Identify and refer lead opportunities to Financial Consultants.

Initiate

Initiate outbound customer calls as requested to deepen customer relationships.

Integrate

Integrate marketing promotions and programs into customer conversations where appropriate.

Investigate

Investigate disputes under established threshold and processes final credit if applicable.

Lead

Lead discovery and discussions to help customers develop transformation target state solutions.

Log

Log customer service correspondence in the internal system.

Maintain

  • Maintain controls and records of customer documentation.

  • Maintain familiarity with jeffersonbank.com and ability to navigate the site.

  • Maintain required documentation for any exception maintenance performed in Online Banking platform.

  • Maintain Service Levels on inbound lending request queues along with timely responses to members.

  • Maintain the confidentiality of customer and Bank information.

Manage

Manage customer bank accounts.

Match

Match product and service solutions to each Customers' unique needs.

Monitor

  • Monitor and manage financial transactions to identify fraudulent activities.

  • Monitor and manage liquidity and cash flow.

  • Monitor and manage the performance of investment portfolios.

  • Monitor and work the disputes queue and apply for provisional or final credit when applicable.

Partner

Partner with the Branch Manager to provide informal leadership to the sales team.

Perform

  • Perform administrative duties (e.g. entering data into banking software).

  • Perform any required documentation to ensure customer's requests are accurately processed.

  • Perform a variety of Online Banking projects, tasks and assist E-Banking VP as needed.

  • Perform detailed deep dive Zafin Platform presentations and demonstrations.

  • Perform duties with confidence, minimal supervision and sound judgment to mitigate risk for the firm.

  • Perform market research and analyze industry trends.

Plan

Plan, design, write, modify, integrate and test related code.

Prepare

  • Prepare and collects enrolment / maintenance forms and documentation.

  • Prepare and present financial presentations to clients and stakeholders.

  • Prepare loan documentation and agreements.

Present

Present financial products and services to existing and prospective customers.

Prevent

Prevent loss due to fraud, counterfeiting, money laundering, or defalcation.

Process

  • Process address changes in accordance with procedure (Loan and Deposit customers).

  • Process all expedited debit card requests and travel exceptions as requested by the customer.

  • Process new online account set-ups and perform on-going maintenance to existing online accounts.

Provide

  • Provide a high level of customer service to all Online Banking end users.

  • Provide basic technical up support related to browsers, cookies and the Online Banking session.

  • Provide clients with a personalized rewarding experience.

  • Provide expert advice on investment options and strategies.

  • Provide guidance on financial planning and wealth management.

  • Provide high quality advice, across the full range of deposits and investment products and services.

  • Provide relevant needs-based advice to our customers by understanding their goals and priorities.

  • Provide Subject Matter Expertise as it relates to the Zafin Platform.

  • Provide training and guidance to colleagues on specialized banking processes and systems.

Reach

Reach out to potential customers to generate new business.

Recommend

Recommend opportunities to improve productivity, effectiveness and operational efficiency.

Refer

Refer clients to inhouse financial experts, as needed.

Report

Report to the Manager, Customer Experience and Direct Sales.

Research

  • Research and resolution of complex client inquiries via phone, cases, and chat.

  • Research and resolve client issues in cooperation with back office partners.

  • Research, identify, and resolve account questions, delinquencies, and other issues.

Resolve

  • Resolve customer complaints and issues in a timely and satisfactory manner.

  • Resolve issues with banking services and accounts.

Review

Review, validate and perform maintenance from Branch and staff.

Stay updated on

Stay updated on industry developments and changes in regulations.

Support

  • Support internal initiatives including enablement of partners as part of partner on-boarding process.

  • Support mergers and acquisitions by conducting due diligence and financial analysis.

  • Support offshore hours / time zones.

Take

Take ownership of Customer concerns and resolve Customer issues at first point of contact.

Troubleshoot

Troubleshoot common debit card issues, order debit cards and perform card maintenance as necessary.

Understand

  • Understand and interpret SWIFT messages (MT 103, MT 540).

  • Understand and respond to business requirements.

Utilize

Utilize CRM workflow system to work maintenance requests for customers from branches.

Verify

Verify proposals' accuracy and sign off on the final documents to be presented to the client.

Most In-demand Hard Skills

The following list describes the most required technical skills of a Banking Specialist:

  1. Proficiency in financial analysis and modeling.

  2. Knowledge of banking regulations and compliance.

  3. Expertise in risk management and assessment.

  4. Strong understanding of investment principles and strategies.

  5. Familiarity with financial software and tools.

  6. Proficiency in data analysis and interpretation.

  7. Knowledge of credit analysis and lending principles.

  8. Understanding of financial markets and economic trends.

  9. Expertise in budgeting and financial forecasting.

  10. Familiarity with financial accounting principles.

  11. Knowledge of banking operations and procedures.

  12. Proficiency in using banking software and systems.

  13. Understanding of financial derivatives and products.

  14. Expertise in liquidity management and cash flow analysis.

  15. Knowledge of financial regulations and compliance frameworks.

  16. Familiarity with asset and liability management.

  17. Proficiency in financial reporting and analysis.

  18. Understanding of corporate finance principles.

  19. Knowledge of mergers and acquisitions processes.

  20. Expertise in financial planning and wealth management.

Most In-demand Soft Skills

The following list describes the most required soft skills of a Banking Specialist:

  1. Strong analytical and problem-solving skills.

  2. Excellent communication and interpersonal skills.

  3. Attention to detail and accuracy in financial analysis.

  4. Ability to work well under pressure and meet deadlines.

  5. Collaboration and teamwork in a cross-functional environment.

  6. Adaptability and flexibility in a rapidly changing banking industry.

  7. Customer service and relationship management.

  8. Strong organizational and time management skills.

  9. Ethical conduct and professionalism.

  10. Ability to work independently and take initiative.

  11. Critical thinking and decision-making abilities.

  12. Effective negotiation and persuasion skills.

  13. Leadership and mentoring capabilities.

  14. Conflict resolution and problem-solving skills.

  15. Empathy and understanding of client needs.

Conclusion

A Banking Specialist plays a vital role in the banking industry by providing specialized expertise and support in various banking domains. Their main responsibilities encompass a wide range of tasks, from financial analysis and risk assessment to client relationship management and compliance. To excel in this role, Banking Specialists require a combination of hard skills, including financial analysis, regulatory knowledge, and technical proficiency, as well as essential soft skills such as communication, problem-solving, and customer service. By possessing these skills and fulfilling their responsibilities, Banking Specialists contribute to the success and growth of financial institutions and ensure the delivery of exceptional banking services to clients.

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